GAO Reports On Charity Tax Abuse
If the IRS only has enough staff to do a hundred audits of abusive transactions involving tax-exempts, it’s hard to see how better analysis will help all that much.
“As we discussed earlier in this report, IRS’s Research, Analysis and Statistics office also has developed the capability to analyze narrative information, which it has tested on the Form 8886. However, this analytical tool is not being used operationally to review the Form 8886 or any other disclosure report. Our analysis shows that the tool has the potential to help IRS better search disclosure reports for additional information about transactions that could help IRS identify potentially abusive schemes involving tax-exempt entities.”
Expats Need Expert Tax Advice
Given their jobs as intelligence analysts Elena and Federick are probably smarter than most CPAs and EAs, myself certainly included. Nonetheless, hiring someone with some specialized tax knowledge would have been money well spent. The Tax Court sustained deficiencies of nearly $90k and penalties close to $40k. And those are from the years 2004-2006, meaning the interest will be, as we say, “a number
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.